Luckin Coffee, Americana Group join hands for new retail coffee biz in Greater Middle East and India
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E-mail China.org.cn, July 23, 2019
Luckin Coffee and Kuwait Food Company Americana K.S.C.C., the largest integrated food product company in the Middle East, announced today that they have signed a Memorandum of Understanding (MoU) under which the two companies plan to establish a joint venture to launch a new retail coffee business in the Greater Middle East and India.
Luckin Coffee's technology-driven new retail model provides coffee and other products of high quality, high affordability, and high convenience to its customers. Americana Group has extensive experience as the largest integrated food product company in the Middle East, having served as a pioneer of restaurant operations since the 1960's.
Luckin Coffee's new business model have fundamentally changed the transaction structure and user experience of China's coffee industry.
"This collaboration represents Luckin Coffee's first step toward bringing its leading products from China to the world. We look forward to further expanding the freshly brewed coffee market internationally as we realize the incredible growth opportunities available to us through our innovative business model," said Luckin Coffee's Founder and CEO Jenny Qian Zhiya.
The MoU was signed in Beijing with Americana Group CEO Kesri Kapur with both Chinese and Arab government officials in attendance.
Mr. Kapur said, "We at Americana believe this MoU will revolutionize the food and beverage retail industry in the Greater Middle East and India, regions that provide promising prospects for new retail growth and expansion. We have worked with many leading and revolutionary food and beverage brands over our history and believe that Luckin Coffee's superior products, experience and services will deliver success in these regions."
